I'm determined to read more on economics. The week I spent in Spain and now the two plus weeks I have been in Colombia: I wonder, how can anyone here afford anything? The average income in Spain is not terribly high. I know it's very low relative to the US here in Colombia. But things cost the same or more than they would in the US. And not just luxury goods like a computer or a car. Going out to eat in both places is very expensive. In Madrid, okay, I can imagine there are enough people of some means who can afford to go out there regularly. And the ownership situation is different. Many building have been in the family for generations and overhead is low. Here, I have no idea who goes out to eat. I was reading up on the average salary of the upper-middle class here. If I made that much I'd go out to eat only a few times a year. Which is fine, I suppose. Maybe going out to eat is a luxury. Sad, I think that it should ever be so, but maybe that's the reality here. What I'd like to know is, who's patronizing these places enough so that they all stay in business? I can't imagine there's enough business to go around. It stumps me. Any economists out there or people who know such thing (Gladwell fans?) - shoot me a comment, let me know. I'm stumped.
While you're at it. The other thing I wonder is: is there a crash coming? There's no infrastucture here. Unemployment is high. Should I be on the lookout for a "market correction?"
I'm sure there's going to be one in Spain (correct me if I'm wrong). But the EU seems to be doing them a disservice in many ways. They can't keep up with the price of the Euro. Unemployment is high. Salaries are low, but prices keep rising commensurate with the growth of the European economic community. Germany, France. Their holds seems tenuous. How can Spain hold on? Anyone in the know have any thoughts on this?
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